During Market hours Yesterday (Thursday – 13.10.2022):

  • The Dow (Symbol: DIA) went up +2.88%. The S&P 500 (Symbol: SPY) gained +2.64%. and the Nasdaq (Symbol: QQQ) rose +2.35%.
  • Digital World Acquisition (Symbol: DWAC) — The company planning to take Donald Trump’s media company Truth Social public surged +14.6%, continuing its ascent on an announcement Wednesday that Google would allow the media company into its app store. The company was previously banned.
  • Delta Air Lines (Symbol: DAL) — Shares of Delta were up +4% after posting record revenue for the third quarter. The airliner also expects to post another profit in the last quarter of the year thanks to the continued recovery in both leisure and business travel.
  • Walgreens (Symbol: WBA) — Walgreens added +5.4% following the company’s announcement before the bell that it beat earnings expectations for the fourth quarter, underscoring its success in expanding health care operations.
  • Biogen (Symbol: BIIB) — The biotech company jumped +6.4% following Stifel upgrading the stock to buy from hold, noting concerns about its Alzheimer’s drug were overstated.
  • Kohl’s (Symbol: KSS) — The retailer was up +12.4% following a report from the Wall Street Journal that said activist investor Macellum Advisors called for the replacement of at least three directors following failed sales talks. Macellum warned a proxy battle could be ahead for the retailer.
  • Taiwan Semiconductor (Symbol: TSM) — Shares were up +3.9% after the company reported an 80% jump in profit for the quarter. The stock was also helped by news of the company getting a one-year license from the U.S. to continue ordering equipment inside the country that can be used in China. The stock was at a 52-week low during day trading.

During Premarket hours today – (Friday – 14.10.2022):

  • JPMorgan Chase (Symbol: JPM) – JPMorgan Chase shares added +2.3% in the premarket after beating top and bottom line estimates for the third quarter. The bank’s results were boosted by higher net interest income, helping offset lower deal-making revenue and higher loan loss reserves.
  • Wells Fargo (Symbol: WFC) – Wells Fargo gained +1.6% in premarket trading following its quarterly results. Higher interest rates helped the bank’s bottom line, despite taking a hit from charges related to litigation and other matters.
  • Morgan Stanley (Symbol: MS) – Morgan Stanley reported quarterly profit of $1.47 per share, 2 cents shy of estimates, as the investment bank navigated what it called a difficult and uncertain environment.
  • Beyond Meat (Symbol: BYND) – Beyond Meat slumped -8.7% in the premarket after reducing its revenue outlook and announcing another round of job cuts, pointing to reduced demand for its plant-based meat products and increasing competition.
  • Caterpillar (Symbol: CAT) – Caterpillar waived its mandatory retirement policy in a move that will allow Chief Executive Officer Jim Umpleby to remain in his job after he turns 65 in February.

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